Rakuten Investment Management Inc. Acquires 7,470 Shares of MetLife, Inc. $MET

Rakuten Investment Management Inc. lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,665 shares of the financial services provider’s stock after purchasing an additional 7,470 shares during the quarter. Rakuten Investment Management Inc.’s holdings in MetLife were worth $9,203,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MET. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of MetLife in the second quarter valued at approximately $26,000. Burk Holdings LLC purchased a new stake in MetLife during the 2nd quarter worth approximately $27,000. Nvwm LLC lifted its holdings in MetLife by 655.3% during the 3rd quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock worth $27,000 after buying an additional 249 shares in the last quarter. Highland Investment Advisors LLC acquired a new stake in MetLife during the 2nd quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its position in MetLife by 123.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Down 3.0%

Shares of MetLife stock opened at $99.79 on Friday. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $106.72. The company has a 50 day moving average of $98.11 and a 200 day moving average of $86.15. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $64.21 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, topping the consensus estimate of $2.77 by $0.01. MetLife had a net margin of 6.21% and a return on equity of 24.45%. The company had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the business posted $2.34 EPS. The firm’s revenue was up 18.2% on a year-over-year basis. As a group, research analysts forecast that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife announced that its board has authorized a share buyback plan on Wednesday, August 5th that allows the company to buy back $3 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. MetLife’s payout ratio is presently 30.90%.

Analysts Set New Price Targets

Several equities analysts have commented on MET shares. Jefferies Financial Group boosted their price target on shares of MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their price objective on MetLife from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Atlantic Securities set a $103.00 target price on MetLife in a report on Wednesday, July 15th. Wells Fargo & Company boosted their target price on MetLife from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, TD Cowen upped their price target on MetLife from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.44.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Third-quarter adjusted EPS was $2.78, slightly above the $2.77 consensus, while reported revenue of $20.52 billion topped the $19.86 billion estimate and increased 18.2% year over year. MET Q3 Earnings Beat on Higher Investment Income, Revenues Miss
• Positive Sentiment: Management highlighted broad business growth, strong returns and record adjusted EPS, with group-benefits underwriting performing ahead of its target. MetLife posts record adjusted EPS as group benefits underwriting runs ahead of target
• Neutral Sentiment: MetLife expects full-year Retirement and Income Solutions adjusted earnings to land slightly above the midpoint of its $1.6 billion–$1.8 billion outlook as variable investment income normalizes. MetLife full-year RIS earnings outlook
• Negative Sentiment: Despite the generally favorable results, investors may be concerned that rising expenses and actuarial adjustments are offsetting some gains. The stock’s decline and move below $100 indicate a negative market reaction to the earnings news, though the reports do not identify a single definitive catalyst. MetLife breaks below $100

MetLife Company Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.